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20000w770 <br />(d) a writ of execution or aUachnrerrt of airy similar process shall be entered ag;onst Trustor wl►u:l► sh.rll <br />become a lien or► the Trust Estate or any portion the <br />reul ur interest there'll and such execution, attachn►r•r ►t or sunnlar <br />process of judgment is not released, bonded, satisfied, vacated or stayed within sixty (60) clays alter its entry or levy; or <br />(e) there has occurred a breach of or default under any term, covenant, agreement, condition, provision, <br />representation or warranty contained in any prior deed of trust or mortgage affecting the Trust Estate. <br />10. Accoloratiorr apon Dofaulr: Addiriorral fTorrlodies. If an Cvcnt of default occurs, Beneficiary may drrlare. file <br />Indebtedness secured hereby to be due and payable. and the sane shall thereupon become due and payable without any <br />Presentment. demand, 'protest or notice of any kind. Thereafter, Beneficiary may: <br />W either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed <br />by a court and without regard to the adequacy of its security, enter upon and take possession of the Trust Estate, or any <br />part thereof, in its own name or in the narne of Trustee, and do any acts which it deems necessary or desirable to preserve <br />the value, marketability or rentability of the l rust Estate, or part thereof or interest therein, increase the income therefrom <br />or protect the security Hereof arid, with or without taking possession of the Trust Estate, sue for or otherwise collect the <br />rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of <br />operation and collection including attorneys' fees, upon any indebtedness secured hereby, all in such order as Beneficiary <br />may determine. The entering upon and taking possession of the Trust Estate, <br />profits arid t the collection of such rents, issues and <br />he application thereof as aforesaid shall riot cure or waive any default collection <br />notice of default hereunder or <br />invalidate any act doer. in response to such default or pursuant to such notice of default and, notwithstanding the <br />colitinuance in possession of the Trust Estate or tile colleclion, receipt and application of rents, issues or profits, lnrstee <br />or Beneficiary shall berm entitled to exercise every right provided lot in any of the. Loan Insuun►ems or by law upon <br />occurrence of any event of default, including the right to exercise the power of sale; <br />(ii) commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specifically <br />enforce any of the covenants hereof; <br />(iii) deliver to Trustee a written declaration of default and demand for sale and a written notice of default and <br />election to cause Trustor's interest in the Trust Estate to be sold, which notice Trustee shall cause to be duly filed for <br />record in the appropriate offices of the County in which the Trust Estate is located; or <br />(iv) exercise such other rights or remedies at law or in equity. <br />1 1. Foreclosure by Power of Sale. If Beneficiary elects to foreclose by exercise of the Power of Sale herein contained, <br />Beneficiary shall notify Trustee and shall deposit with Trustee this Second Deed of Trust and any note evidencing the Indebtedness <br />and such receipts and evidence of expenditures made and secured hereby as Trustee may require. <br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded, published and delivered <br />to Trustor such Notice of Default and Notice of Sale as ther► required by law and by this Second Deed of Trust. Trustee <br />shall, without demand on Trustor, after such time as may [lien be required by law and after recordation of such Notice of <br />Default and after Notice of Sale having been given as required by law, sell the Trust Estate at the time and place of sale <br />fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, <br />and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States <br />payable the time of sale. Trustee shall deliver <br />deeds conveying be sold, but w to such purchaser or purchasers thereof its good and sufficient deed or <br />veying the property ithout any covenant or warranty, Cxpress or implied. The recitals in such deed <br />of any matters or facts shall be conclusive proof of tl►e truthfulness thereof. Any person, including without limitation <br />Trustor, Trustee or Beneficiary, may purchase, at such sale. <br />(b) As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, <br />including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of M the <br />Indebtedness (ii) all other sums then secured 1►ereby, and (iii) the remainder, if any, to the person or persons legally entitled <br />thereto. <br />Ic) Trustee may in the manner provided by law postpone sale of all or any portion of the Trust Estate. <br />12. Remedies Not Exclusive. Trustee arid Beneficiary, and each of them, shall be entitled to enforce payment and <br />performance of any indebtedness or obligations secured hereby arid to exercise all rights and powers under this Second Deed of <br />Trust or under any Loan Instrument or other agreement or any laws now or hereafter in force; notwithstanding, some or all of the <br />such indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of trust, <br />pledge, lien, assignment or otherwise. Neither the acceptance of this Second Deed of Trust nor its enforcement, whether by court <br />action or pursuant to the power of sale or other powers herein contained, shall prejudice or in any manner affect Trustee's of <br />Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being agreed that <br />Trustee and Beneficiary, and each of them, shall be entitled to enforce this Second Deed of Trust and any other security now o: <br />IIBA -13 <br />i <br />J <br />